Epiroc secures major contract for mining equipment in Mexico
NewsThe order is valued at about EUR 17.9 million and was booked in the first quarter of 2024. It follows a smaller order from Dumas in the fourth quarter of 2023.
Epiroc further strengthens focus on tools and attachments business
NewsEpiroc’s Group Management will remain unchanged as both Martin Hjerpe and Goran Popovski already are members of Group Management.
Stockholm-based Epiroc is further strengthening the focus on its tools and attachments business. The company on Wednesday announced that it will split the Tools & Attachments division into two divisions and appoint a new division president.
In recent years, the Tools & Attachments division has expanded significantly through organic and inorganic growth and will become significantly larger after the completion of the acquisition of STANLEY Infrastructure.
Therefore, Epiroc will from May 1, 2024, split the Tools & Attachments division into these two new divisions: the Rock Drilling Tools (“Tools”) division and the Mining & Infrastructure Attachments (“Attachments”) division.
The two divisions will cover the following areas:
| The Tools division | The Attachments division |
|---|---|
| – Tophammer and Handheld – DTH, Rotary and Raiseboring – Ground Support – Supply Chain |
– Ground Engaging Tools (CR) – Hydraulic Attachment Tools – STANLEY Infrastructure |
Martin Hjerpe, currently SVP M&A, Strategy and Supply Chain, will become President of the Tools division. Goran Popovski, currently President of the Tools & Attachments division, will become President of the Attachments division.
After the change on May 1, Epiroc will have the following external reporting segments and divisions (the external reporting segments remain unchanged):
- The Equipment & Service segment with the divisions Underground, Surface, Parts & Services North and South America (NASA), Parts & Services Europe, Middle East and Africa (EMEA), Parts & Services Asia Pacific (APAC), and Digital Solutions. (Unchanged).
- The Tools & Attachments segment with the divisions Tools and Attachments.
Epiroc’s Group Management will remain unchanged as both Martin Hjerpe and Goran Popovski already are members of Group Management.
After Martin Hjerpe takes up his new role as division president, the position of SVP M&A, Strategy and Supply Chain will be dissolved. The M&A and Strategy function will report to the Chief Financial Officer. Supply Chain will be part of the Tools division.
“With past growth and now the ongoing acquisition of STANLEY Infrastructure – our largest acquisition ever – our tools and attachments business is expanding significantly,” says Helena Hedblom, Epiroc’s President and CEO. “By dividing up the business into two dedicated divisions, we are optimizing the focus for all the business lines and supporting sustainable, profitable growth.”
Epiroc announced on December 15, 2023, that it had agreed to acquire STANLEY Infrastructure from Stanley Black & Decker, Inc. The acquisition is expected to be completed around the end of the first quarter of 2024.